Insulin Delivery Devices Market

Insulin Delivery Devices Market

Growth Factors of Insulin Delivery Devices Market

The insulin delivery devices market size was valued at USD 8.93 billion in 2023, and the market is now projected to grow from USD 10.11 billion in 2024 to USD 31.98 billion by 2032, exhibiting a CAGR of 15.5% during the forecast period of 2024-2032.

The overall global market for insulin delivering devices has been slow to grow during the COVID-19 outbreak since the devices had not reached many patients and the patients have not visited clinics for their insulin treatment. This affected the need for diabetes care devices and revenues for the key firms, in terms of growth rate. Also, the disruptions in the supplies anticipated and slowed down the market growth during this period.

With the global incidence of the diabetes mellitus rising, management devices are enjoying growing popularity with patients. Government and market players are working on creating awareness about the disease and the available treatments in the market which will push the sales of insulin delivery devices. Such measures can be seen as efforts towards enhancing patients’ access and Self-Management of the disease.

The global rise of diabetes is putting pressure on stakeholders on developing better technologies to meet consumer needs. Current trends in technology are seen to birth diverse delivery systems such as non-insulin delivery systems. Of main interest are the development of technologies that might facilitate care control and patient comfort in diabetes.

Comprehensive Analysis of Insulin Delivery Devices Market

The insulin delivery devices market growth is rising at an exponential rate due to its market segmentation. This market expansion correctly offers a detailed nearby assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by product analysis, by disease indication analysis, and by distribution channel analysis. By product analysis include insulin pumps, insulin pens, insulin syringes, and others. By disease indication analysis include type 1 and type 2. By distribution channel analysis include hospital pharmacies, retail pharmacies, and online pharmacies.

The North America region lead the insulin delivery devices market share by benefitting a market size of USD 4.71 billion in 2023 due to rising prevalence of diabetes in the U.S., Canada, and other countries.

The top players have a significant responsibility in the healthcare industry for confirming industrial prospectus growth and determining the market trends. These players include, Medtronic, Tandem Diabetes Care, Inc., Insulet Corporation, Novo Nordisk A/S, Ypsomed AG, F. Hoffmann-La Roche Ltd., EOFLOW CO., LTD., Terumo Corporation, Sanofi these market players provide a level-playing competitive landscape.

In September 2023, Sanofi collaborated with 35 pharmacies in Berlin to expand its business footprint in Europe.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 15.5% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Product

- Insulin Pumps

- Insulin Pens

- Insulin Syringes

- Others

By Disease Indication

- Type 1

- Type 2

By Distribution Channel

- Hospital Pharmacies

- Retail Pharmacies

- Online Pharmacies

By Region

- North America (By Product, By Disease Indication, By Distribution Channel, and By Country)

- U.S. (By Disease Indication)

- Canada (By Disease Indication)

- Europe (By Product, By Disease Indication, By Distribution Channel, and By Country /Sub-region)

- U.K. (By Disease Indication)

- Germany (By Disease Indication)

- France (By Disease Indication)

- Italy (By Disease Indication)

- Spain (By Disease Indication)

- Scandinavia (By Disease Indication)

- Rest of Europe (By Disease Indication)

- Asia Pacific (By Product, By Disease Indication, By Distribution Channel, and By Country /Sub-region)

- China (By Disease Indication)

- Japan (By Disease Indication)

- India (By Disease Indication)

- Australia (By Disease Indication)

- Southeast Asia (By Disease Indication)

- Rest of Asia Pacific (By Disease Indication)

- Latin America (By Product, By Disease Indication, By Distribution Channel, and By Country /Sub-region)

- Brazil (By Disease Indication)

- Mexico (By Disease Indication)

- Rest of Latin America (By Disease Indication)

- Middle East & Africa (By Product, By Disease Indication, By Distribution Channel, and By Country /Sub-region)

- GCC (By Disease Indication)

- South Africa (By Disease Indication)

- Rest of the Middle East & Africa (By Disease Indication)


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